Investing in the Mission
The Single-Family Mission Index is a powerful tool created for mission-focused investors to help drive more intentional housing outcomes, and positively impact the communities in which we live.
Make Informed Investments with the Mission Index
The Mission Index provides insights into mission-oriented lending activities underlying our Single-Family mortgage-backed securities (MBS)—helping meet specific portfolio construction needs and informing investment strategy. Evolved from Fannie Mae’s Social Index, it includes many of the same criteria and:
Allows investors to identify MBS with high concentrations of loans that align with mission objectives.
Seeks to preserve the liquidity and efficiency of the UMBS TBA mortgage market for Fannie Mae and Freddie Mac issued securities.
Helps to protect borrower privacy by aggregating potentially sensitive data elements into summary metrics.
Coming Soon:
Single-Family Social Bonds
Starting in June 2024, Fannie Mae plans to issue Single-Family social bonds. The Mission Index serves as the foundation of the framework, which seeks to provide credibility and transparency into mission-oriented investments.
Investor Resources
Social Bond Framework
Learn how the enhanced Mission Index lays the groundwork for our Single-Family Social Bond Framework.
Disclosure and Privacy: A Delicate Balance
Read about our efforts to balance mortgage securities’ disclosure requirements and data privacy.
Legacy Mission Index V1 (Social Index) Resources
The resources below help showcase the evolution of the Mission Index from version 1 to where it stands today.
Mission Index V1 (Social Index) Methodology
Review the initial Mission Index V1 (Social Index) methodology.
Historical Information*
View Mission Index V1 (Social Index) scores for active and inactive MBS pools issued from January 2010 through October 2022.
Mission Index V1 (Social Index) Prepayment Chartbook
Review historical loan pool performance.
*You can sign up for PoolTalk® credentials via the Login button. Report file is located in Data Files and Reports.
Explore the Drivers of the Mission Index
Learn how the Mission Criteria Share (MCS) and Mission Density Score (MDS) work together to support investing and lending that aligns with our mission.
Scoring Framework
The 10 criteria and overarching 3 dimensions determine
the mission-oriented scoring makeup of each pool of loans.
Understanding the Single-Family Mission Index
To show how the Mission Index functions, let’s first generate the Mission Criteria Share (MCS) for a hypothetical residential MBS pool composed of 10 loans.
To begin, we’ll evaluate the loans against our criteria.
Scoring Loan Pools for Mission Criteria
Each loan in a pool is scored against the mission criteria and receives a loan-level score that reflects the number of criteria satisfied.
In this example, 8 of the 10 loans meet at least one criteria.
Generating the Mission Criteria Share
This pool would have a Mission Criteria Share (MCS) of 80%, which represents the share of loans that meet any 1 of the 10 mission criteria.
Next, we’ll calculate a Mission Density Score.
Assessing Mission Density
The Mission Density Score (MDS) is generated by evaluating each loan in a pool against three dimensions: income, borrower, and property. A loan receives a score of 1 for each dimension it satisfies, for a maximum loan-level score of 3.
The average of these scores within a given pool is the MDS.*
Calculating the Mission Density Score
This pool would have a score of 2.1, representing a higher density of mission-oriented loans.
The MDS ranges from 0 to 2.5. Higher scores imply greater potential for mission impact.
Elevating Mission-Oriented Lending
By utilizing the Mission Index, investors and lenders can promote greater access to credit and affordable housing opportunities.
Swipe to see how the Mission Index works.
Click to see how the Mission Index works.